The main reason why people with no experience in the field of business manage to find success as franchisees is that they learn how to run a business from the franchisor. This will only be possible when the franchisor provides a comprehensive training program. So, potential business owners who want success as a franchisee must check out the training programs of the franchisor before buying a franchise. Here is a checklist to help evaluate the training program that the franchisor will provide.
- Look at the length of the training program. Depending on the nature of the business, the training can run for at least one week or maximum of four weeks. But generally, top franchises have a training program of two weeks on an average.
- The location of training is also important. Again, depending on the nature of the business, the training can be held at the franchisor’s location or at any other franchisee’s location or at your own location. But no matter where it is done, some theoretical classes must be conducted before taking the practical classes. The training should be a proper mixture of theoretical and practical classes.
- The course material should be up-to-date and industry relevant. Current franchisees should be asked about the training they have received. Obviously, franchisees who have been in operation for a decade or more may not have the most pertinent information. However, for those who have been in business for a couple of years, their training experience should offer a comparison. Also see if the training has been updated in that time. If not, and particularly if the industry is undergoing rapid change, question whether the franchisor keeps up with the latest technology and trends.
- The course material should include instructions on how to advertise and run the business, selecting the right real estate, hiring employees and managing the finances.
- The method of training will help demonstrate how technology-friendly the franchise opportunity is. For example, if the franchisor trains via webinars or podcasts and other online mediums, it’s possible the franchisor is up-to-date on technology. However, there are certain franchise categories where this wouldn’t make sense.
- Ask the franchisor whether it is arranging training for a manager or another employee of the franchise business. This is especially important for people who buy a franchise as passive owners. Most of the time, the franchisee may have to pay for this extra training, so don’t forget to ask the price.
An extensive training program from the franchisor is essential for the success of the franchisee. Hence, checking out all aspects of the training program is critical for success.